Zhejiang Tenchen Controls subsidiary has entered into a strategic cooperation with Guangdong Gaoyu focusing on eVTOL and other aspects.

Zhejiang Tenchen Controls (603085.SH) announced that its holding subsidiary Guangdong Zhejiang Tenchen Controls Automotive Seating Co., Ltd. (referred to as "Guangdong Tiancheng") has signed a "Strategic Cooperation Agreement" with Guangdong Gaoyu Technology Co., Ltd. (referred to as "Guangdong Gaoyu"). The two parties will cooperate based on their respective advantageous resources to jointly develop and produce electric vertical take-off and landing aircraft (eVTOL) components and materials. The signing of this agreement will establish a strategic partnership between the company and Guangdong Gaoyu. Leveraging its own advantages in aircraft seating and automotive seating resources and core capabilities, combined with Guangdong Gaoyu's position as a future low-altitude travel technology ecosystem company, the company will actively explore and innovate in the research and development and manufacturing of flying cars, forming a mutually beneficial partnership to promote the development of the low-altitude economic industry. This cooperation will enhance the company's research and development capabilities in the eVTOL field, promote the exploration of the company in emerging business areas, and align with the company's long-term development plan and the interests of all shareholders.